Visa and U.S. Bank have launched an invoicing, payments and receivables joint venture that aims to capitalize on the bank’s processing and trade finance network.

Visa and U.S. Bank have created a joint venture – Syncada – that provides a business-to-business (B2B) network for corporations and governments to process and track invoices, make and receive payments around the world, and have payables or receivables financed through local and global financial institutions.

Syncada combines Visa's proven experience in delivering commercial payment services to financial institutions and managing a multi-bank network, with U.S. Bank's PowerTrack, an automated B2B e-invoicing, payment processing and trade finance network.

For the complete story, click here.